GMR Infrastructure reports consolidated net loss of Rs 94 cr during June quarter

BANGALORE: GMR Infrastructure, infrastructure holding company, posted a consolidated net loss of Rs 94 crore for the quarter ended June 30, 2012.

The company attributed the poor results on losses at Delhi International Airport Limited and a one-time tax asset reversal at GVPGL (Vemagiri power plant).

In the quarter under review, gross revenues increased Rs 2,562 crore from Rs 2,090 crore in the same quarter last year.

The losses for the quarter lowered significantly compared to the previous quarter ended March 31, 2012 (Rs 366 crore) on account of improved revenue and EBIDTA from all sectors.

GMR Group President and CFO Subba Rao said, “During the quarter, DIAL has implemented the new tariff for aero charges as approved by AERA (Airports Economic Regulatory Authority) which has improved the overall performance of DIAL and consequently our airport sector. While growth in revenues of airport and highways sectors is in line with our plans, non-availability of gas for the power plants has impacted the topline for energy sector.”